Tuan Sing buys tire firm

Wed, 16 Oct 1996, 00:00 WIB | Source: REUTERS

SINGAPORE (Reuter): Diversified Tuan Sing Holdings Ltd said
yesterday it had bought Singapore Bandag Pte Ltd, a tire
retreading company, for S$6.6 million.

Singapore Bandag and its wholly-owned Malaysian subsidiary,
Performance Retreads Sdn Bhd, both have a franchise agreement
with Bandag Inc in the U.S. for a tire retreading system.

Tuan Sing, which has interests in property development, civil
engineering and building construction, said in a statement the
acquisition would boost its trading division and complement its
tire distribution operations.

Tuan Sing entered the tire market earlier this year when
Indonesian tire manufacturer PT Gadjah Tunggal appointed its
subsidiary Globaltraco International sole distributor in a number
of Southeast Asian countries and parts of West Africa.

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